Hims & Hers Health (NYSE:HIMS) Stock Price Up 3.2% – Should You Buy?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price shot up 3.2% on Tuesday . The stock traded as high as $44.38 and last traded at $43.33. 30,266,677 shares were traded during mid-day trading, an increase of 36% from the average session volume of 22,255,384 shares. The stock had previously closed at $41.98.

Analysts Set New Price Targets

A number of brokerages have issued reports on HIMS. Needham & Company LLC reiterated a “hold” rating on shares of Hims & Hers Health in a research note on Monday. TD Cowen downgraded shares of Hims & Hers Health from a “buy” rating to a “hold” rating and dropped their price objective for the company from $44.00 to $30.00 in a report on Tuesday, April 29th. UBS Group reaffirmed a “mixed” rating on shares of Hims & Hers Health in a report on Tuesday, May 6th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $40.00 price target on shares of Hims & Hers Health in a report on Wednesday, June 11th. Finally, Leerink Partners increased their price target on shares of Hims & Hers Health from $24.00 to $40.00 and gave the company a “market perform” rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.00.

Hims & Hers Health Stock Up 2.5%

The firm has a market cap of $9.64 billion, a P/E ratio of 62.39, a P/E/G ratio of 2.42 and a beta of 2.09. The company’s 50 day simple moving average is $48.71 and its 200-day simple moving average is $39.33.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, May 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The business had revenue of $586.01 million for the quarter, compared to analyst estimates of $535.21 million. Hims & Hers Health had a net margin of 9.24% and a return on equity of 22.75%. The company’s quarterly revenue was up 110.7% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. Equities research analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Transactions at Hims & Hers Health

In related news, insider Irene Becklund sold 8,485 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $59.75, for a total transaction of $506,978.75. Following the transaction, the insider now directly owns 712 shares of the company’s stock, valued at $42,542. This trade represents a 92.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Melissa Baird sold 33,333 shares of Hims & Hers Health stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $25.78, for a total transaction of $859,324.74. Following the transaction, the chief operating officer now directly owns 805,083 shares in the company, valued at approximately $20,755,039.74. The trade was a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 751,034 shares of company stock valued at $36,486,522. 13.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several institutional investors have recently bought and sold shares of the business. Rhumbline Advisers grew its holdings in Hims & Hers Health by 93.8% in the fourth quarter. Rhumbline Advisers now owns 516,224 shares of the company’s stock worth $12,482,000 after purchasing an additional 249,854 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Hims & Hers Health by 48.2% during the 4th quarter. Principal Securities Inc. now owns 3,079 shares of the company’s stock worth $74,000 after acquiring an additional 1,002 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Hims & Hers Health by 41.4% during the fourth quarter. Sanctuary Advisors LLC now owns 36,853 shares of the company’s stock worth $891,000 after purchasing an additional 10,796 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Hims & Hers Health during the fourth quarter worth about $48,000. Finally, Private Advisor Group LLC purchased a new stake in Hims & Hers Health during the 4th quarter valued at about $312,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.